Sales Trends for 2015 of BMW Company
The above graph clarifies sales trends during the next following months for the year 2015. The month of March, April, may and June offers of BMW Company were observed to be very low sales they all were between $102,360 – $143,000 Noteworthy increment seen in the month of July and sales were $244,240 and at all sudden it dropped to $199,740 in a month of August. From the September and October, it had the dramatic increase in comparison to March to August. Through the assessment of the sales trend, the company will be able to make an assessment of their current sales against their desired sales. The dashboard makes it possible for the policy makers in the organization to see the trend and consequently make an assessment of their current situations (Web-based dashboard, 2009). The ability to meet their sales targets as well as the inability is evident from the dashboard. Additionally, in the event they were not able to meet their sales target, it will be possible to make an assessment of the factors that inhibited the attained as well as the possible interventions needed. In the case of BMW, the management can notice that there are some months that are recording low sales and thus the need to consider the measures that could promote their sales. These could range from adopting social media marketing strategies to the motivation of the sales team, giving them the incentive to augment their commissions via better sales. The overall objective of the business, in this case, is developing a competitive advantage that will assist them to have a superior competitive edge over the competitors and thus generate better sales (Pratt, 2014).
Revenue of Sales Person and Their Commission
Karthik was found to be active and significant in comparison to other sales person in marketing and making the business. His overall sales for the year 2015 from June to October were $278,360. And Akhil and Sachin found to be same revenue range of $160,800-165,000 but the sum of a commission of Sachin’s is 4.41% comparatively low to Akhil’s sum of commission. The graph additionally indicates that Brijesh has the lowest sum of revenue as well as a sum of commission comparative to all others in above dashboard. The assessment of the sales that employees’ are making for the business makes it possible for the business to be aware of the individuals making the greatest contribution to the business. Additionally BMW can assess whether there are skills that are necessary to improve the productivity of their sales people. Through the assessment, it is possible to ascertain the sales doing the best job via looking at their compensation and finding ways of addressing those with lower compensations (Podgórski, 2015).
Revenue by Sales Person per Month
The revenue of sales per month of Ramesh is $135,000 from June to October, where it is comparatively very high to other sales. The sales of Chandu, Akhil, Sachin, Suresh, Vamshi, and Brijesh are below then $76,000. The application of the sales cycle KPI for the sales people is instrumental to the BMW as they can examine the duration it takes one individual to generate revenue from the sales. The assessment of the sales person average cycle will assist BMW make an accurate evaluation of their employees in the sales in assessing their performance. Thus, the KPI will assist BMW to retain as well as recruit the sales people who are productive to the company. Additionally the company can make sale projection by relying on their monthly sales (Hildreth, 2012). Their expansion and marketing strategies heavily rely on the sales they make as they offer the necessary incentive in directing the organizational performance as well as the available resources for their investments. Additionally assessing the monthly revenue that the business is making will assist in making right evaluations of business growth trend and the factors that may hinder the growth.
Revenue by States
The above chart illustrates the revenue of the states that BMW made from the sale of different car models in the diverse above chart illustrates the revenue of the states that BMW made from the sale of different car models in the diverse states. The California has revenue of $258,860 this was the highest revenue generated comparatively to other states. We can also see that Atlanta has very low revenue i.e. $54,000. There are various KPIs that the business applies in promoting its revenue in these states. In this case, the objective of the company is enhancing their revenues collection in each state and one of the KPIs that can assist in assessing the revenue collected the examination of the customer retention rate. The higher the number of customer retention the better the revenue collection (Data Visualization, 2010). Thus, the assessment of the sales made in the different states will give the business a platform to assess their performance and consequently design the strategies that will improve their performance in the respective states. The ability that the company has in assessing their perform states.
The California has revenue of $258,860 this was the highest revenue generated comparatively to other states. We can also see that Atlanta has very low revenue i.e. $54,000. There are various KPIs that the business applies in promoting its revenue in these states. In this case, the objective of the company is enhancing their revenues collection in each state and one of the KPIs that can assist in assessing the revenue collected the examination of the customer retention rate. The higher the number of customer retention the better the revenue collection. Thus, the assessment of the sales made in the different states will give the business a platform to assess their performance and consequently design the strategies that will improve their performance in the respective states (Hein, 2009). The ability that the company has in assessing their performance in the different states will make it possible to outline the specific issues driving the various customers’ states in these states depending on the sales. Through the description of the sales targets for these states, it will be possible to strategies on the most effective marketing strategies that will promote the sales in these states.
Sales by Invoice Amount
This above chart illustrates the following sales by invoice amounts. By this chart, we can assume that the sales from invoice amount of 31560-41559 are the second highest sale from Invoice amount of 71560-81559 as the highest number of sales. Through assessment of the invoice amount, the business can assess the sales they have made and at the same time make the work of the auditors easy as the records of sales are available. Additionally through the assessment of the sales invoice, BMW can attract the effectives of the employees by tracking their sales via invoices as well as the amount generated (Hildreth, 2012).
Revenue by Product
The above graph illustrates the sales of products of the company BMW. It seems to BMW Z 650i has the highest sales comparative to the other products. We can also see that BMW i8 had very low sales from all other products. The application of this KPI offers the business with the advantage of examining the sales they are making depending on their car models. Through this examination, it is possible to assess the models that the customers prefer and thus increasing their availability in the market to boost the sales. Ability to see the models that have low sales makes it possible for BMW to conduct research on the reasons the models are unpopular among the customers and thus make modifications or pull them out of the market (Hein, 2009). BMW will be able to assess the circumstances around each model in the context of the reasons that are promoting the sales of a particular model such as an effective marketing campaign. On the other hand, the low sales for the other model could be because the competition is offering an identical model at a lower price. Thus through the application of this KPI, the BMW will be able to assess the issues that are revolving around the performance of a certain model and how to improve each model to attain the desired sales.